HELI: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
HELI
NACE 46.713, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€419,399
2024 · €107,456+€311,943
Equity
€4.5m
2024 · €4.1m+€419,399
Cash
€19,850
2024 · €98,311-€78,461
Balance sheet total
€19.1m
2024 · €18.8m+€272,799
Largest movements
Assets
- Receivables within one year +€1.1m
up €1.1m (+34.4%), from €3.1m to €4.2m
of which Other amounts receivable: +€1.8m
- Tangible fixed assets -€307,474
down €307,474 (-2.2%), from €14.3m to €14.0m
of which Leasing and similar rights: -€352,678
Equity and liabilities
- Trade debts +€664,981
up €664,981 (+50.1%), from €1.3m to €2.0m
- Debts after one year -€511,879
down €511,879 (-6.5%), from €7.9m to €7.4m
- Reserves +€424,711
up €424,711 (+38.7%), from €1.1m to €1.5m
of which Tax-exempt reserves: +€424,711
- Current portion of long-term debt -€238,500
down €238,500 (-6.9%), from €3.5m to €3.2m
- Tax, wage and social debts +€206,671
up €206,671 (+28.5%), from €725,756 to €932,427
of which Remuneration and social security: +€208,035
Income statement
- Turnover -€1.2m
down €1.2m (-6.3%), from €19.8m to €18.6m
- Goods and materials -€727,440
down €727,440 (-18.2%), from €4.0m to €3.3m
of which Purchases: -€764,744
- Depreciation -€588,730
down €588,730 (-12.1%), from €4.9m to €4.3m
- Other operating income +€573,634
up €573,634 (+38.5%), from €1.5m to €2.1m
- Staff costs -€248,471
down €248,471 (-5.9%), from €4.2m to €3.9m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€107,456
Turnover
-€1.2m
Other operating income
+€573,634
Goods and materials
+€727,440
Services and other goods
-€152,845
Staff costs
+€248,471
Depreciation
+€588,730
Write-downs
+€8,860
Other operating charges
-€14,644
Other operating items
-€317,672
Financial income
-€4,747
Financial charges
+€30,986
Taxes
-€89,313
Deferred taxes and other
-€50,229
Result 2025
€419,399
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.7m
Investment
-€3.9m
Financing
-€898,176
Cash 2024
€98,311
From operations (derived)
+€4.7m
Net result for the year
+€419,399
Depreciation
+€4.3m
Stocks and contracts
+€173,427
Receivables within one year
-€1.1m
Deferred charges and accrued income
+€147,161
Provisions
+€141,559
Trade debts
+€664,981
Tax, wage and social debts
+€206,671
Advances received
-€161,555
Accrued charges and deferred income
-€100,079
Investment (derived)
-€3.9m
Investment in fixed assets (net)
-€3.9m
Financing
-€898,176
Debts after one year
-€511,879
Current portion of long-term debt
-€238,500
Short-term financial debts
-€147,798
Cash 2025
€19,850
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,812,815 | €19,085,614 | +€272,799 | +1.5% |
| Fixed assets | 21/28 | €14,565,754 | €14,157,605 | -€408,149 | -2.8% |
| Intangible fixed assets | 21 | €285,291 | €185,261 | -€100,030 | -35.1% |
| Tangible fixed assets | 22/27 | €14,260,289 | €13,952,815 | -€307,474 | -2.2% |
| Land and buildings | 22 | €1,216,911 | €1,150,721 | -€66,190 | -5.4% |
| Plant, machinery and equipment | 23 | €1,169,558 | €1,289,415 | +€119,856 | +10.2% |
| Furniture and vehicles | 24 | €9,678 | €11,352 | +€1,673 | +17.3% |
| Leasing and similar rights | 25 | €11,800,208 | €11,447,531 | -€352,678 | -3.0% |
| Other tangible fixed assets | 26 | €63,933 | €53,797 | -€10,136 | -15.9% |
| Financial fixed assets | 28 | €20,174 | €19,529 | -€645 | -3.2% |
| Other financial fixed assets | 284/8 | €20,174 | €19,529 | -€645 | -3.2% |
| Amounts receivable and cash guarantees | 285/8 | €20,174 | €19,529 | -€645 | -3.2% |
| Current assets | 29/58 | €4,247,061 | €4,928,009 | +€680,949 | +16.0% |
| Stocks and contracts in progress | 3 | €663,963 | €490,536 | -€173,427 | -26.1% |
| Stocks | 30/36 | €663,963 | €490,536 | -€173,427 | -26.1% |
| Goods purchased for resale | 34 | €663,963 | €490,536 | -€173,427 | -26.1% |
| Amounts receivable within one year | 40/41 | €3,142,120 | €4,222,117 | +€1.1m | +34.4% |
| Trade receivables | 40 | €2,569,181 | €1,869,022 | -€700,159 | -27.3% |
| Other amounts receivable | 41 | €572,938 | €2,353,095 | +€1.8m | +311% |
| Cash at bank and in hand | 54/58 | €98,311 | €19,850 | -€78,461 | -79.8% |
| Deferred charges and accrued income | 490/1 | €342,667 | €195,506 | -€147,161 | -42.9% |
| Total equity and liabilities | 10/49 | €18,812,815 | €19,085,614 | +€272,799 | +1.5% |
| Equity | 10/15 | €4,060,216 | €4,479,615 | +€419,399 | +10.3% |
| Contributions | 10/11 | €2,945,101 | €2,945,101 | = | 0.0% |
| Capital | 10 | €2,945,101 | €2,945,101 | = | 0.0% |
| Issued capital | 100 | €2,945,101 | €2,945,101 | = | 0.0% |
| Reserves | 13 | €1,098,358 | €1,523,068 | +€424,711 | +38.7% |
| Non-distributable reserves | 130/1 | €54,155 | €54,155 | = | 0.0% |
| Legal reserve | 130 | €54,155 | €54,155 | = | 0.0% |
| Tax-exempt reserves | 132 | €744,613 | €1,169,324 | +€424,711 | +57.0% |
| Distributable reserves | 133 | €299,589 | €299,589 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,758 | €11,446 | -€5,312 | -31.7% |
| Provisions and deferred taxes | 16 | €248,216 | €389,775 | +€141,559 | +57.0% |
| Deferred taxes | 168 | €248,216 | €389,775 | +€141,559 | +57.0% |
| Amounts payable | 17/49 | €14,504,383 | €14,216,225 | -€288,158 | -2.0% |
| Amounts payable after more than one year | 17 | €7,867,422 | €7,355,544 | -€511,879 | -6.5% |
| Financial debts | 170/4 | €7,867,422 | €7,355,544 | -€511,879 | -6.5% |
| Leasing and similar obligations | 172 | €7,867,422 | €7,355,544 | -€511,879 | -6.5% |
| Amounts payable within one year | 42/48 | €6,533,833 | €6,857,632 | +€323,799 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €3,479,763 | €3,241,264 | -€238,500 | -6.9% |
| Financial debts | 43 | €825,305 | €677,507 | -€147,798 | -17.9% |
| Credit institutions | 430/8 | €825,305 | €677,507 | -€147,798 | -17.9% |
| Trade debts | 44 | €1,326,206 | €1,991,187 | +€664,981 | +50.1% |
| Suppliers | 440/4 | €1,326,206 | €1,991,187 | +€664,981 | +50.1% |
| Advances received on contracts in progress | 46 | €176,803 | €15,248 | -€161,555 | -91.4% |
| Taxes, remuneration and social security | 45 | €725,756 | €932,427 | +€206,671 | +28.5% |
| Taxes | 450/3 | €223,275 | €221,911 | -€1,365 | -0.6% |
| Remuneration and social security | 454/9 | €502,481 | €710,516 | +€208,035 | +41.4% |
| Accrued charges and deferred income | 492/3 | €103,128 | €3,049 | -€100,079 | -97.0% |
| Operating income | 70/76A | €21,278,172 | €20,615,060 | -€663,112 | -3.1% |
| Turnover | 70 | €19,786,795 | €18,550,068 | -€1.2m | -6.3% |
| Other operating income | 74 | €1,491,358 | €2,064,992 | +€573,634 | +38.5% |
| Non-recurring operating income | 76A | €19 | - | -€19 | |
| Operating charges | 60/66A | €20,449,179 | €19,360,821 | -€1.1m | -5.3% |
| Goods for resale, raw materials and consumables | 60 | €3,992,690 | €3,265,250 | -€727,440 | -18.2% |
| Purchases | 600/8 | €3,856,567 | €3,091,823 | -€764,744 | -19.8% |
| Change in stocks: decrease (increase) | 609 | €136,123 | €173,427 | +€37,304 | +27.4% |
| Services and other goods | 61 | €7,076,854 | €7,229,700 | +€152,845 | +2.2% |
| Remuneration, social security and pensions | 62 | €4,178,067 | €3,929,596 | -€248,471 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,851,913 | €4,263,184 | -€588,730 | -12.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €168,129 | €159,269 | -€8,860 | -5.3% |
| Other operating charges | 640/8 | €144,055 | €158,699 | +€14,644 | +10.2% |
| Non-recurring operating charges | 66A | €37,470 | €355,123 | +€317,654 | +848% |
| Operating profit (loss) | 9901 | €828,993 | €1,254,239 | +€425,246 | +51.3% |
| Financial income | 75/76B | €108,786 | €104,039 | -€4,747 | -4.4% |
| Recurring financial income | 75 | €108,786 | €104,039 | -€4,747 | -4.4% |
| Income from financial fixed assets | 750 | €7,064 | €2,054 | -€5,010 | -70.9% |
| Income from current assets | 751 | €44,326 | €56,216 | +€11,890 | +26.8% |
| Other financial income | 752/9 | €57,396 | €45,768 | -€11,628 | -20.3% |
| Financial charges | 65/66B | €730,224 | €699,238 | -€30,986 | -4.2% |
| Recurring financial charges | 65 | €730,224 | €699,238 | -€30,986 | -4.2% |
| Debt charges | 650 | €700,918 | €644,278 | -€56,640 | -8.1% |
| Other financial charges | 652/9 | €29,307 | €54,960 | +€25,654 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | €207,554 | €659,040 | +€451,485 | +218% |
| Transfer from deferred taxes | 780 | €62,657 | €53,266 | -€9,391 | -15.0% |
| Transfer to deferred taxes | 680 | €153,987 | €194,825 | +€40,838 | +26.5% |
| Income taxes | 67/77 | €8,769 | €98,082 | +€89,313 | +1,019% |
| Taxes | 670/3 | €8,769 | €98,082 | +€89,313 | +1,019% |
| Profit (loss) for the period | 9904 | €107,456 | €419,399 | +€311,943 | +290% |
| Transfer from tax-exempt reserves | 789 | €188,005 | €159,764 | -€28,241 | -15.0% |
| Transfer to tax-exempt reserves | 689 | €461,960 | €584,475 | +€122,515 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€166,500 | -€5,312 | +€161,187 | +96.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.